Question
Download Solution PDFWhat is the simple interest on Rs. 32,000 at 8.5% per annum for period from 10th Feb., 2019 to 24th April, 2019?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Principle, P = Rs. 32,000
Rate, r = 8.5%
Time, t = (18 + 31 + 24) / 365 = 73 / 365 = 1 / 5 years
Concept used:
Simple Interest = (P × r × t) / 100
Calculation:
SI = (32,000 × 8.5 × 1 / 5) / 100
⇒ (32 × 85) / 5
⇒ 32 × 17
⇒ Rs. 544Last updated on Jun 19, 2025
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